Looking to stocks under $1 to buy with massive growth and earnings potential?
Every month, we search through dozens of stocks under $1 using a variety of stock screeners to find some hidden gems that the market is ignoring.
Many of these stocks are either old tried and true companies that are facing uncertain times or companies positioned in growth sectors with massive future potential.
Best Stocks Under $1 to Buy in 2019
DropCar (NASDAQ: DCAR)
DropCar is a company that specializes in valet parking services and self-serviced parking spaces through the United States but their main operations are based in NYC.
Consumers use their app to hire a personal valet driver for $15 per hour or reserve a self-managed parking space for $275 per month.
The company recently switched gears and now focuses on increasing their self-serviced parking service, which already has over 750 monthly subscribers. On top of that, they recently entered a partnership with Turo, the largest peer to peer car renting service in America.
Times have been a bit rough for DropCar but America is moving towards a peer to peer lending car service network and companies like DropCar are positioned to benefit from the change in consumer needs.
As of now, the stock is trading at 40 cents per share with a 3.87 million dollar market cap. What I really like about Dropcar is that their quarterly revenue exceeds the market cap at the moment.
And revenue growth has been extremely impressive as well. 263% quarterly revenue growth is an excellent signal that DropCar attracts plenty of customers for their unique line of services.
With the recent negative publicity surrounding ride share services like Uber, people may prefer using a safer, more privatized service like DropCar.
YogaWorks (NASDAQ: YOGA)
YogaWorks is a yoga class & training company that owns 66 yoga studios across America with over 3 million annual students.
The company gets criticized for failing to become profitable even though they own a growing number of Yoga studios.
However, I think analysts are missing out on their more scalable product offering: MyYogaWorks.com
MyYogaWorks is a monthly yoga subscription program with over 1,000 videos available for only $15 per month. This is a great way to reach potential customers who cannot visit a Yoga studio or who live outside the United States.
Netflix proved you can build an entire business on a monthly subscription model even if all of your content is accessible online.
YogaWorks IPOed in 2017 at the price of $5.50 and has taken a huge beaten over the last year. However, I believe in buying when others are selling and getting in under $1 seems like an unbelievable discount for long term investors.
Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website.
While living overseas, he uses PureVPN for a low cost VPN service.
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While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.